RSS Feed

Global Outsourcing Spend to Reach $233B by 2020

According to Nasscom, a world-renowned information technology organization, the future seems bright for the global business process management (BPM) industry as they predict a 6-7 percent growth on spending up until 2020.

Growth Seen in Global Outsourcing Spend

The industry body predicts that the entire BPM sector will increase from $130 billion to $233 billion by 2020.

Nasscom President Som Mittal said the key growth contributors of the sector are: the shifting healthcare regulations in the US, Europe’s financial services and insurance (BFSI) sector, and the business-process-as-a-service (BPaaS) gaining traction within the horizontal services segment.

He added that the industry is gearing up for high-value offerings to cater to the demands of the new breed of customers who are looking for business technology solutions, cloud services, platform-based delivery, and enterprise mobility.

The Indian BPM sector is also anticipated to grow from this year’s $20.8 billion to $50 billion by 2020.